VANCOUVER, BC / ACCESSWIRE / June 19, 2015 / Fjordland Exploration Inc. (TSXV: FEX) announces it intends to raise up to $1 million, the proceeds of which will be used for exploration work on the South Voisey's Bay Project, Labrador and for general working capital purposes. The financing will consist of a non-brokered private placement of up to 20,000,000 units (the "Units") priced at $0.05 per Unit. Each Unit will consist of one common share of the Company (the "Common Shares") and one common share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one additional Common Share at a price of $0.05 per Common Share for one year following the closing date of the Private Placement. A portion of the Units may be flow-through (the "Flow-Through Units"), at the option of the subscriber in which case the Flow-Through Units will consist of one flow-through common share of the Company (the "Flow-Through Common Shares") and one Warrant. The Common Shares issuable on exercise of the Warrants will be non flow-through for the Units and for the Flow-Through Units. A finder's fee of 7% may be payable in Units on a portion of the financing, with the Units having the same terms as above. All the securities issued on closing will contain a legend with a four month hold period.
The financing is subject to the approval of the TSX Venture Exchange.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company historically focused on the discovery of copper and gold deposits in British Columbia. Fjordland's principal exploration focus is currently nickel-cobalt deposits in Labrador. Fjordland's shares trade on the TSX Venture Exchange under the symbol "FEX". For further information visit Fjordland's website at www.fjordlandex.com
On behalf of the Board of Directors,
Richard C. Atkinson, P.Eng.
President & CEO
For further information, please call:
FJORDLAND EXPLORATION INC.
Richard C. Atkinson, President and CEO
1-604-805-3232
[email protected]
www.fjordlandex.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Not for dissemination in the United States or through U.S. newswires
SOURCE: Fjordland Exploration Inc.